Section 402.200

Title XXVI TRADE AND COMMERCE

Chapter 402

Effective - 28 Aug 2004, 2 histories, see footnote   (history) 

  402.200.  Definitions. — As used in sections 402.199 to 402.220, the following terms mean:

  (1) "Board of trustees", the Missouri family trust board of trustees;

  (2) "Charitable trust", the trust established to provide benefits for individuals, as set forth in section 402.215;

  (3) "Department", the department of mental health;

  (4) "Disability", a mental or physical impairment that substantially limits one or more major life activities, whether the impairment is congenital or acquired by accident, injury or disease, and where the impairment is verified by medical findings;

  (5) "Life beneficiary" or "beneficiary", a designated beneficiary of the Missouri family trust;

  (6) "Net income", the earnings received on investments less administrative expenses and fees;

  (7) "Principal balance", the fair market value of all contributions made to a particular account, less distributions, determined as of the end of the calendar month immediately preceding the occurrence giving rise to any determination of principal balance;

  (8) "Requesting party", the party desiring arbitration;

  (9) "Responding party", the other party in arbitration of a dispute regarding benefits to be provided by the trust;

  (10) "Successor trust", the trust established upon distribution by the board of trustees pursuant to notice of withdrawal or termination and administered as set forth in section 402.215;

  (11) "Trust", the Missouri family trust established pursuant to sections 402.200 to 402.220;

  (12) "Trustee", a member of the Missouri family trust board of trustees.

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(L. 1989 H.B. 318 § 1, A.L. 1991 S.B. 311, A.L. 1993 H.B. 136 merged with S.B. 338, A.L. 1998 S.B. 852 & 913, A.L. 1999 S.B. 211, A.L. 2004 H.B. 923)